100 Mil Reis Thesouro Nacional, 4th print

Perkins, Bacon & Petch had already built their reputation on intaglio security printing — their banknote and postage stamp work for Britain's colonies and dependent territories made them a natural choice for Brazilian imperial commissions. This 4th print designation reflects the Brazilian Treasury's practice of ordering successive batches from London as domestic demand outpaced existing stock, with each print run technically identical to the last but distinguished in catalog records by issue sequence.

Brazil's imperial paper currency of the 1860s circulated under persistent public distrust, a hangover from earlier inflationary episodes under the Banco do Brasil. The 100 Mil Reis was high-denomination enough to move primarily through commercial channels rather than everyday retail trade.